Councillor Tim Warren shared his vision for the future of the Council in the November edition of the Bath Magazine. He quoted an example of a recent council success, namely: “New commercial investments that are generating an additional £1.7m income for the council this year.”

In 2017 the purchase of three industrial and office investments outside the B&NES area was approved by only two cabinet members at a total cost in excess of £28m. While the additional income of £1.7m quoted by Councillor Warren is technically correct, it is misleading because the cost of servicing the borrowing reduces the net income to approximately £770,000.

B&NES has borrowed in excess of 100 per cent of the purchase price, something no bank would do for a private sector investor.

The council’s answer will be that these loans totalling over £28m are secured against its mainly retail commercial investment estate worth over £300m. That is all well and good until one of the three properties is vacant and the council has to service this significant debt.

Instead of acting in such an uncommercial manner the council should be focussing on securing a better return from its existing commercial investment estate, which is largely debt free.